HomeMy WebLinkAboutReso - CC - 012-2013RESOLUTION NO. 12-2013
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
BURLINGAME AMENDING THE ADOPTED BUDGET FOR FISCAL
YEAR 2012-13
WHEREAS, on June 18, 2012, the City Council of the City of Burlingame adopted an Annual
Operating and Capital Improvement Program Budget for fiscal year 2012-13, which detailed the City's
- planned expenditures-in-lightofexpected revenues; and -- -- -- --- - -
WHEREAS, the total budget appropriation for the Burlingame Avenue Streetscape Improvement
Project (C1P) were projected to be $9,000,000 in revenue from issuance of Burlingame Financing
Authority Lease Revenue Bonds, Series 2012; and
WHEREAS, the actual bonds proceeds resulting from the issuance of the bonds was $10,300,000
due to favorable market conditions and the excellent rating that the City of Burlingame received from the
rating agencies; and
WHEREAS, in order to begin construction of this high priority project and award the contract for
construction, staff is recommending amending the City's Capital Improvement Program Budget for fiscal
year 2012-13 to add $1,300,000, and to use said additional appropriations to construct the Burlingame
Avenue Streetscape Improvement Project;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME DOES
HEREBY RESOLVE AND ORDER AS FOLLOWS:
1. All the facts recited above, in the staff report and supporting documentation are true and
correct and the Council relies upon same in amending the budget.
2. The City of Burlingame Fiscal Year 2012-13 Annual Operating and Capital Improvement
Program Budget is hereby amended to add $1,300,000 to its total.
3. The additional $1,300,000 appropriation shall only be used for the Burlingame Avenue
Streetscape Improvement Project.
4. The budget amendment shall become eff tive on Februaryl9, 13.
Keighran, Mayor
Ana Maria Silva
I, Mazy Plloia Kaai;�%4 City Clerk of the City of Burlingame, do hereby certify that the foregoing
Resolution was introduced at a regular meeting of the Burlingame City Council held on the 10 day of
February, 2013, and was adopted thereafter by the following vote:
AYES: Councilmembers: Baylock, Brownrigg, Deal, Keighran, Nagel
NOES: Councilmembers: None
ABSENT: Councilmembers: None �
x / A l �d
Ana Maria Silva, Acting City Clerk